Saratoga Springs, NY – Info That Hits Us Where We Live
QUOTE OF THE WEEK… “Saints are sinners who kept on going” –Robert Louis Stevenson, Scottish novelist, poet, and essayist
INFO THAT HITS US WHERE WE LIVE… Home prices also keep on going, and in a decidedly upward direction. The National Association of Realtors (NAR) reported thatfor Q1 of this year, the median existing home price jumped 11.3% over last year, the largest annual gain since Q4 of 2005. But Q1 inventory was down 16.8%. The NAR’s chief economist expounded: “Inventory conditions are expected to remain fairly constrained this year, so overall price increases should be well above the historic gain of one-to-two percentage points above the rate of inflation.”
A leading research analytics firm reported that home prices in March jumped 10.5% year over year, posting their biggest annual gain in seven years. Plus, the 1.9% price increase over February was the 13th monthly gain in a row. These analysts expect April to register a 12% annual and a 2.7% monthly price hike, if you exclude distressed sales. Finally, Fannie Mae reported a milestone in consumer optimism about home prices: the majority of Americans they surveyed now expect home prices to increase over the next year.
BUSINESS TIP OF THE WEEK… From Warren Buffett: “…the biggest thing that kills [businesses] is complacency. You want a restlessness, a feeling that somebody’s always after you, but you’re going to stay ahead.”
|Kristen Zorda Prime Lending Loan Officer
648 Plank Rd. Suite 203
Orson B.Klender, Associate Broker
Keller Williams Realty Saratoga Springs
38 High Rock Ave, Saratoga Springs, NY 12866
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Cell: 1 (518) 588-2319 ~ Fax: 1(866) 588-6066